Daiboci- has broken above its downtrend line

Daiboci has been in a downtrend after it peaked in March 2010. You may recall my posts calling for profit-taking in January 2010 & May 2010. After a prolonged downtrend, Daiboci has now awaken. It broke above the downtrend line in mid-July at RM2.70. Despite the uncertain market, the stock continue to stay above the breakout level. Based on this positive sign & bullish breakout, Daiboci could be a good stock for medium-term investment.


Chart: Daiboci's weekly chart as at July 26, 2011_10.00am (Source: Quickcharts)